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| Version 1 | Version 2 |
|---|---|
| US trade deficit narrows as imports drop | US trade deficit narrows as imports drop |
| (about 1 hour later) | |
| The US trade deficit fell in June after imports dropped 1.2% from the previous month, the biggest fall in a year. | The US trade deficit fell in June after imports dropped 1.2% from the previous month, the biggest fall in a year. |
| The Department of Commerce reported a deficit of $41.5bn in June, a 7% decline from May's $44.7bn. | The Department of Commerce reported a deficit of $41.5bn in June, a 7% decline from May's $44.7bn. |
| Imports fell by $2.9bn to $237.4bn, in part due to lower imports of consumer goods and cars. Imports of petroleum products also fell. | Imports fell by $2.9bn to $237.4bn, in part due to lower imports of consumer goods and cars. Imports of petroleum products also fell. |
| Exports of food and drink, vehicles and consumer goods helped to lift exports by 0.1% to a record $195.9bn. | Exports of food and drink, vehicles and consumer goods helped to lift exports by 0.1% to a record $195.9bn. |
| Growth in the US economy in the second quarter may have been stronger than initial US government estimates, the figures suggest. | Growth in the US economy in the second quarter may have been stronger than initial US government estimates, the figures suggest. |
| Last week the Department of Commerce said the US economy grew at an annual rate of 4% during the April-to-June period. | Last week the Department of Commerce said the US economy grew at an annual rate of 4% during the April-to-June period. |
| However, that rate included an estimate for the June trade deficit that was higher than Wednesday's figure, economists said. | However, that rate included an estimate for the June trade deficit that was higher than Wednesday's figure, economists said. |
| The trade deficit in petroleum products fell to $14.6bn, its lowest level in four years, helped by lower imports. | |
| US imports of petroleum products have fallen every month since January. | |
| Domestic shale oil and gas production has been booming in the US over the past few years, reducing the country's reliance on imports. |